State owned Assets Supervision and Administration Commission: Central state-owned enterprises must accelerate the cultivation and strengthening of new quality production forces, and speed up the breakthrough of key core technologies and cutting-edge technologies.

From July 16th to 17th, the State-owned Assets Supervision and Administration Commission of the State Council held a seminar for the leaders of central enterprises to summarize the work of the first half of the year and clarify the key tasks for the second half of the year. The meeting emphasized the need to promote the high-quality development of central enterprises, focusing on operational efficiency, pursuing income and profits that lead to outstanding competitiveness in the core business, stable cash flow, and benefits that can truly accumulate capital; emphasizing growth potential, ensuring effective alignment of short- and long-term goals, simultaneous accumulation of on- and off-balance sheet assets, and coordinated development of soft and hard strengths; emphasizing development value, organically integrating economic, political, and social responsibilities, demonstrating leadership in maintaining market order and enhancing industry value, and actively contributing to the overall work of the Party and the country. It is important to focus on enhancing the "five values", particularly by doing well in "stability, optimization, security, and promotion", maintaining stable operations, anchoring the target of "one profit and five rates", resolutely achieving the annual production and operation targets; optimizing investment structure, improving investment quality and return levels; ensuring national security; promoting coordinated development, strengthening the stable production and supply of key products, assisting market entities in overcoming difficulties, actively serving to guarantee and improve people's livelihoods, and effectively promoting the strengthening of the domestic circular economy. The meeting emphasized that central SOEs must accelerate the cultivation and growth of new productive forces, to accumulate new momentum and new advantages for creating a new situation in the reform and development of enterprises. The development of new productive forces should be placed in a more prominent position, continuously improving total factor productivity, striving to open up the "second curve" of growth, and accelerating the transition from the "sweat-type growth" with massive inputs of factors to the "wisdom-type growth" driven by technological innovation. Efforts should be made to enhance the original leadership of technology supply, accelerate breakthroughs in key core and frontier technologies, promote deep integration of industry, academia, and research, and safeguard the security of industrial and supply chains. It is necessary to accelerate the transformation and industrialization of scientific and technological achievements, forming a virtuous cycle of "innovation-industry-innovation". Continuous efforts should be made to upgrade key industries, surpassing internal competition to maintain the value of industries, highlighting mutual benefit and win-win in nurturing industrial ecosystems, and promoting the continuous leapfrogging of the industrial system towards high value-added and high technological content. High-efficiency reforms should promote the construction of a new type of production relationship, focusing on improving the efficiency of resource allocation, management, operation, incentives, constraints, supervision, and services, completing the deepening and upgrading of state-owned enterprise reforms in a high-quality manner, and creating a favorable environment for the development of new productive forces.